Gossamer Bio (NASDAQ:GOSS) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Gossamer Bio (NASDAQ:GOSS) released its earnings results on Tuesday. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01), FiscalAI reports. The firm had revenue of $13.80 million during the quarter, compared to the consensus estimate of $7.53 million. Gossamer Bio had a negative net margin of 351.49% and a negative return on equity of 1,774.72%.

Gossamer Bio Trading Down 8.0%

GOSS opened at $0.43 on Thursday. The stock’s fifty day simple moving average is $1.73 and its 200 day simple moving average is $2.48. Gossamer Bio has a 1-year low of $0.33 and a 1-year high of $3.87. The stock has a market cap of $100.48 million, a PE ratio of -0.58 and a beta of 2.08.

Hedge Funds Weigh In On Gossamer Bio

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Gossamer Bio by 5.2% in the third quarter. Vanguard Group Inc. now owns 12,009,773 shares of the company’s stock valued at $31,586,000 after purchasing an additional 598,981 shares during the period. State Street Corp boosted its holdings in shares of Gossamer Bio by 139.7% during the 4th quarter. State Street Corp now owns 9,310,969 shares of the company’s stock worth $28,864,000 after buying an additional 5,427,302 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Gossamer Bio by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 4,872,714 shares of the company’s stock worth $15,109,000 after buying an additional 183,183 shares during the period. Corient Private Wealth LLC grew its stake in Gossamer Bio by 19,123.7% in the 4th quarter. Corient Private Wealth LLC now owns 3,845,885 shares of the company’s stock valued at $11,922,000 after buying an additional 3,825,879 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Gossamer Bio by 629.3% in the 3rd quarter. Millennium Management LLC now owns 3,619,329 shares of the company’s stock valued at $9,519,000 after buying an additional 3,123,081 shares during the last quarter. 81.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOSS has been the topic of several analyst reports. Wedbush reaffirmed a “neutral” rating and set a $1.00 price target (down from $6.00) on shares of Gossamer Bio in a research report on Tuesday, February 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Gossamer Bio in a research report on Thursday, January 22nd. The Goldman Sachs Group lowered shares of Gossamer Bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Leerink Partners cut shares of Gossamer Bio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Wall Street Zen downgraded shares of Gossamer Bio from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.43.

Gossamer Bio Company Profile

Gossamer Bio, Inc is a clinical-stage biopharmaceutical company headquartered in San Diego, California. Founded in 2012, the company is focused on discovering and developing oral, once-daily therapies for immune-mediated and inflammatory diseases, as well as oncology indications. Gossamer Bio leverages a deep pipeline of small-molecule candidates aimed at improving patient outcomes in areas of high unmet need.

The company’s lead programs include GB004, an S1P1 receptor modulator in late-stage development for ulcerative colitis, and GB1275, a CD11b modulator being investigated in solid tumors and hematologic malignancies.